it would hurt us pretty good. host: howie asking about the implications from the financial implications of what would happen next. guest: the congressional budget office, which is this of this non-partisan group that measures budgetary things and put of reports. but not another report last week we are assessing a divot going over the fiscal cliff and letting all of these tax cuts expire, it would slow economic growth down so much that it would put united states back into recession. whereas it extended all of the tax cuts and put up the mandated spending cuts, that would create jobs, it would boost economic growth, the only problem is over the long run it would add to the deficit. it is this balancing act. how do deal with the deficit? had you deal with economic conditions? host: are the market's watching this? we saw the united states credit rating take a dip on the congress was at a stalemate over whether or not to raise the debt limit. are we looking at that kind of a scenario again? guest: we are. but perhaps m